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#Anytime fitness monthly cost upgrade#
#Anytime fitness monthly cost full#
#Anytime fitness monthly cost professional#

You should base your staff numbers on a ratio of one employee to 50 gym members. If you do decide to purchase your equipment, you should know that China is home to many top fitness equipment manufacturers with high quality and cost-effective gym equipment. The lower cost will provide you with standard quality commercial gym gear, while the higher rate will give you premium level padding, customized positioning and the highest spec pulleys and cabling. You can expect to pay $10,000 – $50,000 to buy the equipment to outfit a 278 square meter commercial gym.

#Anytime fitness monthly cost full#

You can expect to pay between $48,000 – $98,000 per year to lease a gym full of equipment. You should budget to equip your facility with premium quality gym equipment. Over the life of your business, leasing will always work out to be more expensive. On the other hand, you will be able to claim the new gym equipment cost as a tax expense, which will help with your first year’s tax bill.

This will also reduce maintenance costs and equipment downtime.

#Anytime fitness monthly cost upgrade#

Leasing also allows them to upgrade the equipment regularly, something which will be greatly appreciated by their clientele. Many gym owners decide to lease their equipment in order to reduce the start up cost for a gym. You should allocate $6,000-$12,000 in annual premiums for your insurances, with the lower amount providing more limited coverage, while the higher amount will reimburse you for such things as loss of potential membership fees. If the equipment is out of warranty or the repair is not covered by the warranty, the costs for repair will be repaid. Equipment Breakdown Coverage – this provides protection for expenses incurred due to equipment breakdown.Worker’s Compensation – this provides coverage if an employee makes a claim against you for a work-related injury.Business Income & Extra Expense Coverage – this provides a payment to allow you to repair and temporarily relocate if your business is affected by fire, flood or earthquake.An example would be the staff member not picking up weights and the member tripping over them and sustaining an injury.

#Anytime fitness monthly cost professional#

Professional Liability – this provides coverage if a staff member is found to have committed ‘errors or omissions’ which have led to accident or injury.

General Liability – this provides protection if your staff or equipment are deemed responsible for accident or injury to a person while they are on the premises.

There are five main types of insurance that a new gym requires: With hundreds of people exerting themselves inside your premises every day, it is vital that you protect the business from liability if things go wrong. However, they do require a lengthy ten-year agreement. They only ask for $56,072 – $122,482 as their initial investment and 6% royalties. The initial cost for this franchise is $178,350 – $370,000, which comes with 7% royalties and a five-year agreement.Īn example of a lower cost gym franchise is GymGuyz. Planet Fitness is one of the most expensive name brands with an initial investment of $969,600 – $4,242,500 as of 2018, which includes the typical industry expectation of 7% royalties and a whopping ten-year agreement.Ī mid-range cost to open a gym franchise would be Pure Barre. It is also important to consider the initial agreement length, which tells you how long you will be tied into the franchise.Ī survey of the Top 10 gym franchises in the United States provides the following averages: Gym franchise fees consist of the initial investment and the royalty fee.

Negative actions of other franchisees or the company will reflect on your business.

Percentage of income must go to the franchisee (5%-20%).

Franchisor responsible for staff training.

Franchisor chooses the location and sets up the gym.

Equipment and interior design part of the package.

Ready-made business and marketing plans and advertising material.

Association with an established, creditable industry name.

Here is an overview of the pros and cons of buying a gym： Franchise agreements can have hidden costs to start a gym, and independent ownership can be challenging to plan for if you don’t have a mentor or business coach. Take your time to do your research, whether choosing to franchise or opening a gym on your own. Gym franchises seem to be popping up everywhere but every town has a few independent operators with a reputation for personal service and attention to detail.

The first and most critical decision that a new gym owner will have to make is whether to strike out as an independent operator or purchase a franchise.